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Floating storage for LNG surges with more ships from Qatar

A high number of LNG vessels are currently identified as floating storages, adding to supply overhang of liquefied natural gas and tightening the market for shipping.

Photo: PR / BW Group
BY ANNA SHIRYAEVSKAYA, NAUREEN S. MALIK AND VANESSA DEZEM, BLOOMBERG
Published:

The number of liquefied natural gas tankers identified as floating storage appears to be peaking, tightening the market for shipping and adding to a supply overhang.

The phenomenon happens when LNG tankers loaded with cargoes either travel slower than usual to their destination or wait at sea for a buyer.

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